A taxi driver who died 15 years ago is believed to have murdered young Queensland woman Sharron Phillips in 1986.

Police who reopened the investigation into the 20-year-old's disapperance in May 1986 say that if Raymond Peter Mulvihill was alive today, he'd be charged with the 20-year-old's murder.

Police say the investigation into the murder of Sharron Phillips was re-opened following information in May 2006

— Queensland Police (@QldPolice) October 6, 2017

Police say that Raymond Peter Mulvihill, if alive today, would be charged with Sharron Phillip's murder.

— Queensland Police (@QldPolice) October 6, 2017

Police will make every effort to locate Sharron Phillips body

— Queensland Police (@QldPolice) October 6, 2017

Police say there is no evidence to implicate Bob Phillips in this matter

— Queensland Police (@QldPolice) October 6, 2017

Mulvihill died in 2002. He drove a cab that was based at the back of a Wacol convenience store where Ms Phillips made a phone call after her car ran out of petrol on the night of May 9, 1986.

Detectives formed the view he was the killer after receiving a tip off.

Detective Inspector Damien Hanson says police are keeping an open mind, and will consider whether he may have had an accomplice.

BREAKING: Police believe a deceased Brisbane taxi driver killed Sharron Phillips in 1986. #7News https://t.co/hsFdjAB6OT

— 7 News Brisbane (@7NewsBrisbane) October 6, 2017

But he said there was no evidence to support that at this stage.

AAP